[212 Pages Report] The ventilator market is projected to reach USD 859.9 Million in 2018, and is expected to grow at a CAGR of 8.0% during the forecast period of 2018 to 2023. Factors such as increasing number of preterm births, rapid growth in the geriatric population, rising prevalence of respiratory diseases, and rising number of ICU beds are expected to drive the growth of the ventilators market during the forecast period. In addition, the growing demand for home care therapeutics and higher growth in developing countries like China, India, and Brazil are driving the demand for ventilators. However, inappropriate reimbursement scenario, complications associated with the use of ventilators, and resistance from physicians for technology transition are restricting the growth of this market to a certain extent.

The base year considered for the study is 2017 and the forecast period includes 2018 to 2023.

Objectives of the Study

To define, describe, segment, and forecast the global ventilator market on the basis of mobility, type, interface, mode, end user, and region

To provide detailed information regarding the major factors influencing growth of the market (drivers, restraints, opportunities, and challenges)

To analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market

To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders

To forecast the size of the ventilators market with respect to four main regions (along with countries), namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

To profile the key players in the global ventilator market and comprehensively analyze their core competencies and market shares

To track and analyze competitive developments such as joint ventures, mergers, acquisitions, new product/technology developments, and R&D activities of the leading players in the global ventilator market

Research Methodology

Top-down and bottom-up approaches were used to validate the size of the global ventilator market and estimate the size of other dependent submarkets. Various secondary sources such as directories, industry journals, databases such as D&B, Bloomberg Business, and Factiva, and annual reports of the companies have been used to identify and collect information useful for the study of this market. Primary sources such as experts from both supply and demand sides have been interviewed to obtain and validate information as well as to assess dynamics of this market. The breakdown of profiles of primaries is shown in the figure below:

The global ventilator market is projected to reach USD 1,261.9 Million by 2023 from USD 859.9 Million in 2018, at a CAGR of 8.0%. Rapid growth in the geriatric population, increasing incidence of preterm births, and rising number of ICU beds are the major factors driving the growth of the ventilator market. Moreover, the growing investments, favorable regulatory policies, and growth in the healthcare industry in emerging countries in the Asian region are expected to provide favorable growth opportunities for players operating in the ventilator market.

The report analyzes the global ventilator market by mobility, mode, interface, type, end user, and region. On the basis of mobility, the intensive case ventilators segment accounted for the largest share of the global ventilators market in 2017. The large share of the intensive care ventilators segment can be attributed to the rising number of intensive care beds equipped with ventilators. The increasing ICU admission and re-admissions in developed countries coupled with appropriate reimbursement is also responsible for the large share of the ICU ventilators segment.

Based on interface, the invasive ventilation segment accounted for the largest share of the ventilator market in 2017. The large share of this segment is attributed to the wide applications of intensive care ventilators in respiratory diseases, neurological diseases, and sleeping disorders.

Based on end user, the hospitals & clinics segment accounted for the largest share of the ventilator market in 2017. The large share of the hospitals and clinics segment can be attributed to financial capabilities of hospitals to purchase high-priced instruments as well as the availability of trained professionals to operate ventilators.

North America accounted for the largest share of the ventilator market in 2017, followed by Europe and Asia Pacific. The rising geriatric population, high prevalence of smoking, high prevalence of respiratory diseases, highly developed healthcare system, high healthcare expenditure, and the presence of major market players in the US are the key factors attributed to the large share of ventilators market in North America.

Factors such as complications associated with the use of mechanical ventilators, resistance from physicians for technology transition, and the availability of low-cost products from local manufacturers are limiting the growth of the ventilator market to a certain extent.